RIO DE JANEIRO - Chinese car manufacturer Chery inaugurated its first plant in Brazil on Thursday in the city of Jacarei in Sao Paulo state.
At the inauguration ceremony, Chery also announced an investment of 50 million reais ($22.4 million) to build a research and development center in Brazil.
The company will soon start tailoring its production for the South American country, which indicates its interest in the Brazilian market, said Luis Curi, Chery's vice-president for Brazil.
"In the future, probably starting in 2018, Chery will have a car planned, developed and produced especially for the Brazilian market. The R&D center will also act in the development of new models for Latin America," he said.
When fully operational in 2018, the Jacarei plant will have a production capacity of 150,000 vehicles per year. The first model to be produced will be the Chery Celer, and the QQ model will follow next year.
The Chery plant currently employs 300 people, a third of whom are former employees of GM's Sao Jose dos Campos factory. When fully operational, it will have some 3,000 people.
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